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The Hulu Factor

What Comcast may really be after in its bid for Sky

The cable industry is undergoing a major transformation, as more Americans cut the cord on their cable subscriptions and flock to streaming services like Hulu and Netflix. So how did we get here? Illustration: Shaumbe Wright/WSJ

By

Elizabeth Winkler

March 6, 2018 5:30 a.m. ET

What is Comcast really after?

The media company has offered $41 billion for U.K. satellite-TV provider Sky, praising it for its strategic value and proprietary content. But the deal doesn’t really make sense.

First, satellite TV may do better in Europe than in the U.S., but comparisons to DirecTV, which has hemorrhaged subscribers, are difficult...